Manila, Sept. 9 -- The Enhanced Fiscal Regime for Large-Scale Metallic Mining Act or Republic Act (RA) 12253 is expected to generate an additional PHP6 billion annually for the government, Senator Joseph Victor Ejercito said Tuesday.

He said the reform establishes a fair and uniform tax regime for the mining industry.

"With this law, we harness the potential of our mining sector and turn our mineral wealth into national wealth. We make sure that mining works for the people, protects our environment, and fuels our national development," he said.

The law guarantees the faster release of mining taxes and royalties to local government units, enabling them to fund projects and services that directly benefit their constituents.

Ejercito sai...